Stocks recovered somewhat from a morning beating as worries about a global economic slowdown eased and investors continued to sort through the implications of the Fed's emergency interest-rate cut.

The Dow lost about 1 percent, after having posted bigger losses through the early afternoon. The blue-chip barometer opened down by more than 450 points.

The S&P 500  index and the Nasdaq composite both inched lower, recovering from bigger losses.

Stocks tumbled at the open on worries that the United States may be headed for a recession, if it isn't already in one.

Global markets tumbled as well  on Monday, while U.S. markets were closed for the Martin Luther King Jr. Day holiday.

That global market selloff prompted the Federal Reserve to hold an emergency telephone conference Monday night  From there a decision to slash the fed funds rate was announced Today.

Ram Killuri, president of Global Investment management said, "The markets opened sharply lower, but then cool heads prevailed. The large issues we are facing have not gone away and will continue to play out for some time," Kolluri said. "But I think the crisis scenario that has been floating around Wall Street has gotten overstretched."

The good news is still there though.  Interest rates are low and the buyers are starting to take advantage of the opportunities out there.  I've observed noticable activity in the showings of my listings and my internet hits up which tells me the buyers are paying attention.

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